Weekly domestic raw steel production fell 0.7% from 1.840 million tons (mt) last week to a six-week low of 1.828 mt for the week ending March 15, 2014. Despite the decline, production is some 2.4% above the year-ago level of 1.785 mt.
Capacity utilization decreased from 76.5% last week to 76.0% this week, which is also a six-week low, but is above the year-ago level of 74.5%.
The lowest production since the recession began was 800,000 tons for the week of December 27, 2008, while the highest was 2.005 mt for the week of May 12, 2012. The lowest capacity utilization rate since the recession began was 33.5% for the week of December 27, 2008; the highest was 81.1% on May 12, 2012.
We would caution readers that only half of the AISI reporting companies release their weekly production in “real time” so the other half of this data is estimated using the last month’s reported production & operating rate. What this means is that when production is changing, the weekly data is actually understating the change.
Source: AISI and Steel Market Intelligence
